Venture Global (NYSE:VG) Stock Price Down 8.4% – Here’s What Happened

Venture Global, Inc. (NYSE:VG)’s stock price was down 8.4% during mid-day trading on Tuesday . The stock traded as low as $8.76 and last traded at $8.57. Approximately 2,498,801 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 11,634,318 shares. The stock had previously closed at $9.36.

Analyst Ratings Changes

A number of equities analysts have issued reports on VG shares. Bank of America reduced their price target on shares of Venture Global from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Zacks Research raised shares of Venture Global from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. US Capital Advisors raised shares of Venture Global to a “moderate sell” rating in a report on Monday, December 15th. Wells Fargo & Company set a $8.00 price objective on Venture Global in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Venture Global in a report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Venture Global has an average rating of “Hold” and an average target price of $13.11.

Venture Global Price Performance

The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 3.46. The stock has a 50-day moving average price of $8.17 and a 200 day moving average price of $9.92. The stock has a market capitalization of $24.24 billion and a price-to-earnings ratio of 12.09.

Venture Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.017 per share. This represents a $0.07 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 15th. Venture Global’s dividend payout ratio is presently 8.97%.

Insider Activity

In related news, insider Thomas Earl sold 1,000,000 shares of Venture Global stock in a transaction on Friday, December 5th. The shares were sold at an average price of $6.89, for a total value of $6,890,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 86.73% of the stock is owned by company insiders.

Institutional Trading of Venture Global

Several institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in Venture Global by 1,750.0% in the 4th quarter. Blue Trust Inc. now owns 3,700 shares of the company’s stock valued at $25,000 after buying an additional 3,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Venture Global during the second quarter valued at approximately $26,000. MAI Capital Management purchased a new position in shares of Venture Global in the third quarter valued at approximately $29,000. Harbour Investments Inc. acquired a new stake in shares of Venture Global in the fourth quarter worth approximately $29,000. Finally, UMB Bank n.a. increased its position in shares of Venture Global by 161.2% during the third quarter. UMB Bank n.a. now owns 2,949 shares of the company’s stock worth $42,000 after purchasing an additional 1,820 shares in the last quarter.

Venture Global Company Profile

Venture Global (NYSE: VG) is a Houston-based energy company that develops, constructs and operates large-scale liquefied natural gas (LNG) export facilities in the United States. The company focuses on converting domestically produced natural gas into LNG for shipment to international markets, positioning itself as a supplier of pipeline-quality gas in vessel-ready form for global customers.

Venture Global’s core activities include site development, engineering and construction of liquefaction and export terminals, commissioning and ongoing operations of those facilities, and commercial marketing of LNG under both long-term and short-term contracts.